Deutsche Post 3Q Earnings Rose as Revenue Grew in All Divisions
November 12 2019 - 1:50AM
Dow Jones News
By Cristina Roca
Deutsche Post AG (DPW.XE) on Tuesday reported a jump in
third-quarter earnings, and said all its divisions contributed to
revenue growth.
The German freight-and-logistics group reported net profit of
561 million euros ($618.8 million) for the period, nearly three
times higher than the EUR146 million result posted during the same
period the year previous.
Revenue rose 4.7% to EUR15.55 billion, coming in higher than
analysts' expectations of EUR15.46 billion, according to a FactSet
estimate. Deutsche Post said all its divisions grew their revenue
in the quarter.
"The international express business and the German parcel
business saw especially dynamic growth as e-commerce continued to
boom," the company said.
Earnings before interest and tax came to EUR942 million compared
with EUR376 million the year prior and higher than analysts'
expectations of EUR891 million, according to a FactSet estimate.
The big year-on-year EBIT improvement was in part due to last
year's result being hit by EUR392 million in one-off expenses,
Deutsche Post said.
The company backed its 2019 outlook of EBIT of between EUR4
billion and EUR4.3 billion and said its German post and parcel
division should contribute EUR1.1 billion-EUR1.3 billion to total
EBIT for the year.
Deutsche Post also backed its 2020 outlook of EBIT of more than
EUR5 billion, and its recently-set 2022 target of EBIT reaching at
least EUR5.3 billion.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
November 12, 2019 01:35 ET (06:35 GMT)
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